Earnings or Loss Per Share

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements

Note 9 - Earnings or Loss Per Share

For the year ended December 31, 2011, diluted earnings per share includes 93,000 shares of common stock associated with outstanding options and warrants, 235,000 shares issuable upon conversion of our convertible preferred stock calculated using the treasury stock method, and 836,000 shares of unvested unrestricted stock.

Diluted loss per share for the year ended December 31, 2010 is the same as basic loss per share due to the net loss in each of the respective periods and the following potential shares of common stock that could have been issuable have been excluded from the calculation of diluted loss per share because the effects, as a result of our net loss, would be anti-dilutive (in thousands):

	December 31,
	2010
Series A-2 Preferred Stock		2,648
Warrants		712
Options		1,260
Unvested restricted stock		689
		5,309